Month: January 2018

Are you intending on relocating your business premises? Well, when you are relocating your business premise there are some very important things you need to keep in mind. Because not all the businesses have the ability to relocate as immediately as intended. And some important things should be taken into consideration first.

Here are some of those pointers to check before going ahead with the relocation!

Budget- Cost / Benefit analysis

The very first thing you need to do is to undertake budgeting. You need to look into the business’s current finances and how much can be allocated for the relocation. And you should also make a forecast of the future cash flows to ensure that the entire relocation process will go down smoothly. It is very important that you manage your finances properly. Always ensure that the budget is properly drawn up. Look into all the expected expenses that need to be included. And look how each of those expenses will be financed. And then you need to draw up an expected cost/benefit analysis to see if the relocation was indeed worth all the trouble!

Stakeholder Satisfaction

It is of vital importance that all your stakeholders are satisfied with your relocation. The most important being your employees and your customers. You need to first carry out a survey and find out what their idea is about your business relocating. You can also get their suggestions of where they think is best for relocating. You also need to allow them to include which facilities they think should definitely be available in your business premises. For instance, car park or air conditioning. You can also get their opinion on what they would feel about if you shifted to a serviced office Kuala Lumpur.

Business costs and exposure

Whether you move to a coworking space or you opt for a single building with only your company, you need to analyze the cost to the business. For instance, going to the former option will be much cheaper and you may even share facilities like car parking, air conditioning and in some instances even the reception area can be shared.

Security

You also need to be very vigilant of the security of your business when relocating it. Your employees and your customers should always feel safe to travel to your new business premises. And the business premise itself should not be vandalized or stolen from. So, unless you relocate to an area that is of a good neighbourhood and you can be assured of being secure, you may want to reconsider!